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speaker, if we vote on the senate fiscal cliff bill today, i will vote against it because this is not the way to do the people's business. i will not condone with my vote a process that denies the american people an opportunity to participate in their republic on issues of this magnitude. mr. speaker, i yield back. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from oregon seek recognition? without objection, the gentleman from oregon is recognized for one minute. mr. blumenauer: the agreement we are expected to vote on perhaps as early as this afternoon has many commendable and important items. unfortunately too many are short term, much is left out and most important, we are losing an opportunity for reform. we cannot continue to have by far the world's largest and most expensive military, the world's lowest taxes, the most expensive and inefficient health care system and continue to allow our country's infrastructure to fall apart all while america grows and ages. this agreement represents absolutely the least we could have done under these
speaker, if we vote on the senate fiscal cliff bill today, i will vote against it because this is not the way to do the people's business. i will not condone with my vote a process that denies the american people an opportunity to participate in their republic on issues of this magnitude. mr. speaker, i yield back. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from oregon seek recognition? without objection, the gentleman from oregon is recognized for...
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. ; >>> we have an update on the last minute deal to keep the country's economy from going over the fiscal cliff. vice president joe biden arrived at the capital building after negotiating a deal with senate minority leader mitch mcconnell. the senate is expected to vote on the deal in the next few hours and the house will debate the measure tomorrow. there are no details just yet on which tax increases or spending cuts would be included in the deal. >>> less than 6 hours till 2013. >> john fowler is in san francisco where huge crowds are expected to watch fire work ons a beautiful but cold night. >> reporter: beautiful indeed. take you -- look -- look at the bay bridge lights. clear here tonight. this is a wonderful night to view fire works. they put up barricades at the ferry building. the prime spot for viewing fire works. >> it will be good. yeah. we came out here last year and it was nice. >> reporter: no stopping here on the embarcadero. they should have a great view with no parking problem. the new year dawned at midnight moscow time. noon in the bay area. discovery center. we found
. ; >>> we have an update on the last minute deal to keep the country's economy from going over the fiscal cliff. vice president joe biden arrived at the capital building after negotiating a deal with senate minority leader mitch mcconnell. the senate is expected to vote on the deal in the next few hours and the house will debate the measure tomorrow. there are no details just yet on which tax increases or spending cuts would be included in the deal. >>> less than 6 hours till...
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Jan 1, 2013
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"fiscal cliff." the senate is close to a deal as the clock ticks toward midnight and the nation teeters on the edge of the so-called "fiscal cliff." >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: the tentative deal would extend bush-era tax cuts for families making $450,000 a year and individuals making $400,000. it would also increase the taxes on estates worth more than $5 million and extend unemployment benefits for one year. president obama said he would have preferred a grand bargain that solved all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. [ laughter ] >> it may be we can do it in stages. >> reporter: negotiations have been going on all day. lawmakers and aides moving back and forth between meeting rooms here on capitol hill on what is normally a quiet new year's eve. the major sticking upon the now is spending. the president suggested lawmakers mak
"fiscal cliff." the senate is close to a deal as the clock ticks toward midnight and the nation teeters on the edge of the so-called "fiscal cliff." >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: the tentative deal would extend bush-era tax cuts for families making $450,000 a year and individuals making $400,000. it would also increase the taxes on estates worth more than $5 million and extend unemployment...
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lawmakers are taking this country over the fiscal cliff. as one senator said today, something has gone terribly wrong when the biggest threat to our economy is our congress. let's get right to abc's chief white house correspondent jon karl covering this every step of the way. jon, many angry americans watching all of this. >> reporter: well, david, they just blew it. it is now clear that congress will fail to pass by midnight tonight something to prevent virtually everybody's taxes from going up. they have known for more than a year that tonight was the deadline and they just blew it. the deadline to prevent that massive $600 billion combination of tax hikes and spending cuts will be missed. but the scramble continues. to try to get a deal done and passed over the next day or two, that would put the tax cuts, at least, back in place retro actively. and today, they sure seemed close to a deal. >> i can report that we've reached an agreement on all of the tax -- the tax issue. >> reporter: and even though the deal was not finalized, the presi
lawmakers are taking this country over the fiscal cliff. as one senator said today, something has gone terribly wrong when the biggest threat to our economy is our congress. let's get right to abc's chief white house correspondent jon karl covering this every step of the way. jon, many angry americans watching all of this. >> reporter: well, david, they just blew it. it is now clear that congress will fail to pass by midnight tonight something to prevent virtually everybody's taxes from...
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. >> reporter: another draw to donate today, the downfall in the economy and the "fiscal cliff" troubles on capitol hill have people taking a closer look at their tax write-offs. >> this is the last day for tax write-offs. it's not the only reason why i donate but why not? it's a win-win for everybody. >> reporter: the donations will help fund good will's job training and placement programs to help the needy get out of poverty. in san francisco, cate caugiran, cbs 5. >>> well, if you are heading out to party tonight don't forget you can leave the driving to others. in san francisco, muni offers free rides from 8 p.m. to 6 a.m. with some lines running later than usual. in the south bay, all vta bus and light rail is free between 7 p.m. and 4 a.m. caltrain is free southbound only beginning at 11 p.m. until 2:15 a.m. bart is not free. but it will be running trains until 3 a.m. >>> and bundle up. it's going to be cold tonight. it was cold last night. and it has been wet. and the combination led to black ice forming on bay area roads. in the north bay a toyota tundra ended up on its side this
. >> reporter: another draw to donate today, the downfall in the economy and the "fiscal cliff" troubles on capitol hill have people taking a closer look at their tax write-offs. >> this is the last day for tax write-offs. it's not the only reason why i donate but why not? it's a win-win for everybody. >> reporter: the donations will help fund good will's job training and placement programs to help the needy get out of poverty. in san francisco, cate caugiran, cbs 5....
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the fiscal cliff is about taxes and spending. but the big question is that what is the spending issue. if they do have an impact it should not be an impact on the economy. >> people are really losing faith? >> these people of that nearly two years to get this done. for all of the whining... i do not really think there's much sympathy from the american people. the fact of the matter is that there is not just the fiscal cliff but also there is a pending bill that is being held up by the house of republicans. to make sure that the price of milk does not double puriwith nearly $7-for $eight! and can they still with the spending cuts? right now, we are going to hear that it is just going to kick the can and down the road. everything including the spending cuts will be on the table. >>> the impression is that they are closed with the devil is in the detail. there are a lot of emotion and. >> and in terms of the tax issue. this is cutting taxes. i do not want to make you... 12 renegotiate on your tax possibility but the question is weat
the fiscal cliff is about taxes and spending. but the big question is that what is the spending issue. if they do have an impact it should not be an impact on the economy. >> people are really losing faith? >> these people of that nearly two years to get this done. for all of the whining... i do not really think there's much sympathy from the american people. the fact of the matter is that there is not just the fiscal cliff but also there is a pending bill that is being held up by...
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keep in mind that the threat of tax heights going up is only one part of this so-called fiscal cliff. what we also have facing us starting tomorrow or automatic spending cuts that are scheduled to go into effect. keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a scalpel. it may not always be the smartest cuts. that is a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts, those also have to be balanced. my principle has always been to do things in a balanced, responsible way and that means revenues as to be part of the equation in turning off the sequester as well as spending cuts. the same is true for any future deficit agreement. we will have to do more to reduce our debt and deficit. i am willing to do more but it will have to be balanced. we will have to do
keep in mind that the threat of tax heights going up is only one part of this so-called fiscal cliff. what we also have facing us starting tomorrow or automatic spending cuts that are scheduled to go into effect. keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a...
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Dec 31, 2012
12/12
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keep in mind that the threat of tax heights going up is only one part of this so-called fiscal cliff. what we also have facing us starting tomorrow or automatic spending cuts that are scheduled to go into effect. keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a scalpel. it may not always be the smartest cuts. that is a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts, those also have to be balanced. my principle has always been to do things in a balanced, responsible way and that means revenues as to be part of the equation in turning off the sequester as well as spending cuts. the same is true for any future deficit agreement. we will have to do more to reduce our debt and deficit. i am willing to do more but it will have to be balanced. we will have to do
keep in mind that the threat of tax heights going up is only one part of this so-called fiscal cliff. what we also have facing us starting tomorrow or automatic spending cuts that are scheduled to go into effect. keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a...
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economy from going over the fiscal cliff. if lawmakers don't reach a solution by midnight tonight, east coast time, income tax rates will increase for all americans. coming up at 7:15, the two key players who are now in charge of negotiating a last-minute deal. >>> time now, 7:03. grocery stores and other stores in alameda county who sell food and alcohol won't be able to give you plastic bag. in place of the single use bags, stores can use paper or reusable bags but will have to charge you at coast a -- at least a dime per bag. those who collect food stamp the won't have to pay -- stamps won't have to pay. >>> minimum wage goes up to 10.55 tomorrow. university of kentucky economists say that's hurting the youngest members of the work force because employers don't want to pay teenagers more than $10 plus benefits to get their first jobs. >>> just over an hour ago, millions of people in sydney, australia, rang in 2013. [ cheers ] >> crowds gathered to watch the skyline explode with fireworks. 1.5million people were expected to
economy from going over the fiscal cliff. if lawmakers don't reach a solution by midnight tonight, east coast time, income tax rates will increase for all americans. coming up at 7:15, the two key players who are now in charge of negotiating a last-minute deal. >>> time now, 7:03. grocery stores and other stores in alameda county who sell food and alcohol won't be able to give you plastic bag. in place of the single use bags, stores can use paper or reusable bags but will have to...
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the fiscal cliff has the taxing which as a medium impact on the economy but also the spending part which has a longer-term impact. it is a hundred million dollars in domestic and defense spending. that is the one where all the sudden late yesterday they realized maybe we should deal with that too. the reason why is that all of the economic forecasts show that eight the sequestered goes and even for the month and two months into the debt ceiling is negotiated the economic growth that we have experienced about 3% of the last quarter will be what have to about one. >> congress is really just getting what they kind of asked for. you will not be able to deal or come with it arrangement to cut spending and raise taxes, we will do it for you automatically. here the we are and they have not come up with anything. is there any hope of the deal getting done in the next week or two? >> i believe the deal will be done later today. the senate will pick it up in the house will vote on it tomorrow. the wild card is what is the house going to do? they ping-pong back and forth with the senate. this could
the fiscal cliff has the taxing which as a medium impact on the economy but also the spending part which has a longer-term impact. it is a hundred million dollars in domestic and defense spending. that is the one where all the sudden late yesterday they realized maybe we should deal with that too. the reason why is that all of the economic forecasts show that eight the sequestered goes and even for the month and two months into the debt ceiling is negotiated the economic growth that we have...
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Dec 31, 2012
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cliff and being afraid of how far u.s. economy could drop if automatic hikes and cuts aren't averted. still hope of a deal. kind of hearing from some in washington, that they are making progress. negotiators did continue to talk overnight, republicans and democrats are closing in on a deal that would have y somewhere between $400,000 and $500,000 a year talks between mcconnell and vice president biden and staffers working late into the night. even if a deal is reached, it is likely to be temporary with another fight over deficit reduction coming next year. market is reacting cautiously. positive in nasdaq and s&p, dow has cut losses as these bits of news trickle out. bloomberg index still trading s(ó airlines say they are always trying to improve customer service, according to one survey they$0!6 should check to see if their employees have an attitude problem. 1,000 people were asked which airline had the rudest employees, american topped the list, 25% criticizing the manner of the workersg4p, united second, followed b
cliff and being afraid of how far u.s. economy could drop if automatic hikes and cuts aren't averted. still hope of a deal. kind of hearing from some in washington, that they are making progress. negotiators did continue to talk overnight, republicans and democrats are closing in on a deal that would have y somewhere between $400,000 and $500,000 a year talks between mcconnell and vice president biden and staffers working late into the night. even if a deal is reached, it is likely to be...
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. >>> now to continuing coverage of that looming fiscal cliff. 15 hours from right now the u.s. economy will go over that cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight, east coast time, income tax rates will go up for all americans. coming up at 6:15 the new numbers that are being thrown around this morning. >>> it is 6:07. starting tomorrow alameda county grocery stores and most other stores that sell food or alcohol cannot distribute plastic bags to their customers. in place of the single use bags stores are allowed to use paper or reusable bags but they have to charge at least a dime for each bag. customers are being encouraged to bring their own bags when shopping. restaurants can still provide plastic bags to customers. >> i'm trying to remember. >> some of the places i go they give you a discount. they give you five cents if you bring your own bag. >>> time now 6:08. tara is back to talk about your commute. you're also telling us about free rides for new years eve. >> that is right. muni is fre
. >>> now to continuing coverage of that looming fiscal cliff. 15 hours from right now the u.s. economy will go over that cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight, east coast time, income tax rates will go up for all americans. coming up at 6:15 the new numbers that are being thrown around this morning. >>> it is 6:07. starting tomorrow alameda county grocery stores and most other stores that...
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economy will go over the fiscal cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight east coast time income tax rates will go up for all americans. coming up at 5:15 the two men leading the last minute negotiations. >>> the chp is trying to figure out what led up to a crash that killed a motorcycle rider in concord last night. it happened just before 6:30 on kicker pass road. the chp says no other cars were involved and it's unclear why the driver lost control. >>> three people are recovering after a crash after a car crashed into a concord funeral home. it happened yesterday afternoon at the we met brothers concord funeral chop ill on clayton road. it appears two teens were racing when they lost control and crashed their car into the building. the teens were taken to the hospital with serious injuries. a 66-year-old man who was inside the building has a broken leg. police interviewed a second driver that may have been racing the teens but have no arrests yet. >>> police officers are out there watching for drive
economy will go over the fiscal cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight east coast time income tax rates will go up for all americans. coming up at 5:15 the two men leading the last minute negotiations. >>> the chp is trying to figure out what led up to a crash that killed a motorcycle rider in concord last night. it happened just before 6:30 on kicker pass road. the chp says no other cars were...
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despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummeled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was just going to take a two-week maternity leave as she tried to turn this company around. 37 years old, it looks like a mother's touch is what yahoo! needed. >> mother nature. an intense drought in the midwest that scorched the corn and soy crop, sending prices sky high. >> who can forget super storm sandy? neighborhoods along the northeast swept away, millions without power and damages as high as 50 billion dollars raising lots of questions a
despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users...
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the house returned from its holiday hours until the u-s economy goes over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set hikes. "we're apart on some pretty big issues." " >> i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >> "regardless of partisan differences, our top sure that taxes on middle that would hurt our economy badly." >> reporter: a major sticking point continues to be the annual income level at which those tax increases should kick in. the threshold has wavered from 250-thousand dollars to as high as one-million dollars. republicans argue the country doesn't have a tax revenue problem, it has a spending problem. >> "unless we do something about spending, the government will continue to get bigger and the deficit will continue to get bigger." >> reporter: following the president's interview, speaker of the statement saying in part: "republicans made every effort
the house returned from its holiday hours until the u-s economy goes over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set hikes. "we're apart on some pretty big issues." " >> i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >> "regardless of...
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with less than 48- hours until the u-s economy goes over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set of spending cuts and tax hikes. >>> "we're apart on some pretty big issues." "i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >>> "regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy badly." >> reporter: a major sticking point continues to be the annual income level at which those tax increases should kick in. the threshold has wavered from 250-thousand dollars to as high as one-million dollars. republicans argue the country doesn't have a tax revenue problem, it has a spending problem. "unless we do something about spending, the government will continue to get bigger and the deficit will continue to get bigger." >> reporter: following the president's interview, speaker of t
with less than 48- hours until the u-s economy goes over what's being called the fiscal cliff - lawmakers are locked in a fierce face-off over a set of spending cuts and tax hikes. >>> "we're apart on some pretty big issues." "i'm willing to get this done, but i need a dance partner." >> reporter: on n-b-c's meet the press, president obama made a final pitch for his plan to preserve bush era tax cuts for everyone but the wealthiest americans. >>>...
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cliff, will the economy get sucked back into a recession or is a compromise possible? words of wisdom from a wall street journal senior writer right after this break. "wall street journal" senior writer right after this break. [ cellphone chirping ] [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] recession or is a compromise [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. [ male announcer ] when diarrhea hits, kaopectate stops it fast. powerful liquid relief speeds to the source. fast. [ male announcer ] stop the uh-oh fast with kaopectate. >>> we hear plent at this of chatter from pundits that democrats and republicans need to come together. let's get real. president obama has already given a lot more ground than the republicans have, so my advice to senator reid and president o
cliff, will the economy get sucked back into a recession or is a compromise possible? words of wisdom from a wall street journal senior writer right after this break. "wall street journal" senior writer right after this break. [ cellphone chirping ] [ buzzing ] bye dad. drive safe. k. love you. [ chirping, buzzing continues ] recession or is a compromise [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live...
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>> well, listen, we are in an economy and very few and if we went over the fiscal cliff totally and no patch and nothing was fixed in the next if few week weeks and i don't believe we will do that, but if we did the hit to the average family could be as high as $3,500 a year and maybe as low as $2,500, but as high as $35 and not only is that a lot of money, but it is an economy of real money and real expenditures, but the follow-up effect is much bigger. so that the family may withstand having $3,500 less, but the people buy fewer things, and the economy slows down and then people lose their jobs. so maybe you can live without $3,500 less a year, be you can'tley without a job. that is the more serious effect of what it does to my paycheck in a month is whether this slows down the economy. we are not going very quickly in the u.s. economy, but we are are moving forward. people, that is where it hits you when it is not your fault and people are tired. in 2008 something happened to the economy that was with nobody's fault and created by people on high and now we are doing the same thing,
>> well, listen, we are in an economy and very few and if we went over the fiscal cliff totally and no patch and nothing was fixed in the next if few week weeks and i don't believe we will do that, but if we did the hit to the average family could be as high as $3,500 a year and maybe as low as $2,500, but as high as $35 and not only is that a lot of money, but it is an economy of real money and real expenditures, but the follow-up effect is much bigger. so that the family may withstand...
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. >>> it is the one issue that affects just before he single one of us you can the fiscal cliff. think of it as, well this way, our economy is in a car headed toward that cliff and there's a lot of stake, including massive spending cuts and social programs and defense, expiration you the bush era tax cut, increases in other taxes on families like the alternative minimum tax and the expiration of the payroll tax holiday, there's this to think of, for 2 million unemployed worker, the loss of unemployment benefits. we have asked experts to join us for a fiscal cliff roundtable discussion, if you will. ron brownstein is a senior -- cnn senior political analyst and editorial director of the national journal and stephen moore, senior economics writer at the "wall street journal" and is in washington, d.c. first up, ron, will, do you think, these politicians reach a deal or not and why or why not? >> the fiscal cliff was yeelted as a doomsday machine to try to give them more will power to do what they can't do on their own, to reach a deal. the reason all of this was here, incentive to
. >>> it is the one issue that affects just before he single one of us you can the fiscal cliff. think of it as, well this way, our economy is in a car headed toward that cliff and there's a lot of stake, including massive spending cuts and social programs and defense, expiration you the bush era tax cut, increases in other taxes on families like the alternative minimum tax and the expiration of the payroll tax holiday, there's this to think of, for 2 million unemployed worker, the...
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cliff deal. but a former assistant secretary of defense says he can help with a way to cut almost $100 billion from the defense budget. he will be here to explain. hey, look! a shooting star! make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. >>> this whole fiscal cliff mess shows how incredibly out of touch your the way people really live in this country. you are off in la la land and everyone is saying how you're acting like a bunch of spoiled brats who are more interested in being right than in doing the right thing and actually representing the people who elected you. >> my new year's message to wash
cliff deal. but a former assistant secretary of defense says he can help with a way to cut almost $100 billion from the defense budget. he will be here to explain. hey, look! a shooting star! make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power...
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economy is on the verge of taking off. but the fiscal cliff mess could get in the way. how much could eexpect in 2013 with a deal or without a deal. well, i guess i can double check... my watch! [ male announcer ] it pays to double check, with state farm. so, the 5.3-liter v8 silverado can tow up to 9,600 pounds? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments until spring for qualified buyers. get the silverado for 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. >>> welcome back to "your money," we welcome our viewers here in the united states and around the world. breaking news on the fiscal cliff. there's been a significant snag in the negotiations with just fewer than two days remaining to go. about 36 hours remaining on the countdown clock. dana bash is on capitol hill with latest. dana, what have you got? >> this kbifs you a good sense of where things stand. they're at a stands
economy is on the verge of taking off. but the fiscal cliff mess could get in the way. how much could eexpect in 2013 with a deal or without a deal. well, i guess i can double check... my watch! [ male announcer ] it pays to double check, with state farm. so, the 5.3-liter v8 silverado can tow up to 9,600 pounds? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments until spring for...
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it appears for nous, the talks to avoid the fiscal cliff have run into some major road blocs. but those discussions will continue on some level. >>> republicans and democrats as we know are playing chicken with the economy as the if is cal cliff approaches. we'll get a.b. stoddard's take as the clock ticks down. and people are already talking about who they want to be the next president. just who are you voting for in 2016? we've got the answer. [ male announcer ] this december, remember you can stay in and like something ♪ or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on offering some of our best values of the year. this is the pursuit of perfection. let's say you want to get ahead how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead, while you're still in school, you might find the best route... leads somewhere you weren't even looking. let's get to wo
it appears for nous, the talks to avoid the fiscal cliff have run into some major road blocs. but those discussions will continue on some level. >>> republicans and democrats as we know are playing chicken with the economy as the if is cal cliff approaches. we'll get a.b. stoddard's take as the clock ticks down. and people are already talking about who they want to be the next president. just who are you voting for in 2016? we've got the answer. [ male announcer ] this december,...
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cliff but other issues as well. he talked about his priorities for his second administration. he talked about writing the economy again -- righting the economy again. immigration reform. and energy. in his top four he did not mention gun control until prompted by david gregory. take a listen. >> you know, i've been very clear that, you know, assault rifle ban, banning these high-capacity clips, background checks, that there are a set of issues i have historically supported and will continue to support. >> back with "time" magazine's michael crowley, hill's a.b. stoddard, karen tumulty, and cnn's chief white house -- cnn's chief -- white house correspondent jessica yellen. so, it was not a yes, we're going to get this gun thing done, whatever the gun thing is, whether it is school safety, combination of that and mental health, some kind of gun control. it was not uppermost on the president's mind. what do you make of that? >> he's not running into the breach and as a president you have to prioritize. >> about anythin
cliff but other issues as well. he talked about his priorities for his second administration. he talked about writing the economy again -- righting the economy again. immigration reform. and energy. in his top four he did not mention gun control until prompted by david gregory. take a listen. >> you know, i've been very clear that, you know, assault rifle ban, banning these high-capacity clips, background checks, that there are a set of issues i have historically supported and will...
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over the fiscal cliff. they say that reaching a deal will not be easy. >> we cannot afford a politically self-inflicted wound to the economy. the people that you sent to washington half to do with their jobs. >> mitch mcconnell was are riding on capitol hill just hours before meeting with obama. >> we are going to see if we can get there in the next 24 hours. i am hopeful and optimistic. >> politicians on both sides have the responsibility but the president's tax hike will not do much to address the debt. >> the top 25 of american will not even pay one-third of the annual interest that is owed for this 16 trillion dollar debt. >> washington will return before the end of the year but they are likely to be burning the midnight oil. >>> we'll take a quick break on kron 4 news weekend. but first, let's take a live look outside at san francisco from our roof cam here on van ness avenue. let's take a quick look outside this morning at san francisco. outside this morning at san francisco. oh, you have a keurig vue
over the fiscal cliff. they say that reaching a deal will not be easy. >> we cannot afford a politically self-inflicted wound to the economy. the people that you sent to washington half to do with their jobs. >> mitch mcconnell was are riding on capitol hill just hours before meeting with obama. >> we are going to see if we can get there in the next 24 hours. i am hopeful and optimistic. >> politicians on both sides have the responsibility but the president's tax hike...
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lawmakers left for the holiday with the country on the edge of the fiscal cliff. danielle nottingham, cbs news washington. >> it was quite a year. we've going to -- we're going to have more reviews in the last hour. at 8:45 we will take a look at the international news stories of 2012. that is going to be on the cb channel 44, cable 12. >>> for the moment let's look ahead. mcathy labs expects hacking to mobile devices to expand. they might that stuff. the company is especially concerned about so-called ransom ware. it's a type of virus that locks up a phone or tablet and threatens to keep it that way until a ransom is paid. other concerns for mobile customers include trojan horse programs to buy apps without user permission and the hacking of digital wallets. a decline in attacks by hackers because their technical sophistication has grown. >> that's quite the target. >>> it's a murder that even a big city like new york everybody is in shock. >> the arrest of a man pushed to his death at a subway station. ,,,,,,,,,,,,,, a man in front of a subway >>> a woman in new
lawmakers left for the holiday with the country on the edge of the fiscal cliff. danielle nottingham, cbs news washington. >> it was quite a year. we've going to -- we're going to have more reviews in the last hour. at 8:45 we will take a look at the international news stories of 2012. that is going to be on the cb channel 44, cable 12. >>> for the moment let's look ahead. mcathy labs expects hacking to mobile devices to expand. they might that stuff. the company is especially...
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, and it has been building for months now the talk of the fiscal cliff. how optimistic are you about the economy and the business climate out there? how patient do we need to be in the recovery? >> i think as we all know there are lots of corporations in the country that are flushed with cash, and they are hoarding it and not investing in folks and innovation, and they are concerned about where we stand from a regular hrau tolaw tore perspective. i would hope that the white house, the senate, the congress would be able to come together, republicans and democrats to layout a more strategic vision for the future. and we need to simplify the tax code and make it fairer. we need to make sure that government spending is brought under control, and not in a corrosive way or an abusive way, but in a way that makes sense we we can demonstrate so we are serious about controlling our deficit. we have a trillion dollars worth of deficit over year, and we need to sustain that. we know the wealthy will have to pay more and the poor will have to have fewer benefits and
, and it has been building for months now the talk of the fiscal cliff. how optimistic are you about the economy and the business climate out there? how patient do we need to be in the recovery? >> i think as we all know there are lots of corporations in the country that are flushed with cash, and they are hoarding it and not investing in folks and innovation, and they are concerned about where we stand from a regular hrau tolaw tore perspective. i would hope that the white house, the...
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the economy is growing. >> if the nation goes over the fiscal cliff next tuesday, each side blames the other. >> we can avoid going over the fiscal cliff if the president and democrat controlled senate step forward this week and work with republicans to solve this problem and solve it now. >> all over the country now, uncertainty is in the area. >> it's not a matter of am i going to pay my light bill or not but will it deplete my savings. >> even if the impact isn't real, the perceived impact could cause us to drop off in sales. >> getting a deal is up to the senate's top democrat and top republican. >> we are engaged in discussions, the majority leader myself and the white house, in hopes we can come forward as early as sunday and have a recommendation. >> whatever we come up with will be imperfect. some people aren't going to like it. >> majority leader harry reid and minority leader mitch mcconnell say they're confident they come to a compromise but they have to sell it to john boehner and fellow republicans before the deadline. >> president obama will be david gregory's exclusive g
the economy is growing. >> if the nation goes over the fiscal cliff next tuesday, each side blames the other. >> we can avoid going over the fiscal cliff if the president and democrat controlled senate step forward this week and work with republicans to solve this problem and solve it now. >> all over the country now, uncertainty is in the area. >> it's not a matter of am i going to pay my light bill or not but will it deplete my savings. >> even if the impact...
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. >> reporter: as the senate leaders were mapping an escape from the fiscal cliff, president obama and republicans issued dueling messages on the web. >> we cannot afford the self inflicted wound to the economy. the folks you send to washington have to do their jobs. >> reporter: if the nation goes over the fiscal cliff next tuesday each side says the other is to blame. >> we can avoid the fiscal cliff if the president and the democrat-controlled senate step forward and work with republicans to solve this problem and solve it now. >> reporter: all over the country right now, uncertainty is in the air. >> it's not a matter of am i going to pay my light bill but is it going to deplete my savings. >> even if the impact isn't real, the perceived impact could cause a dropoff in sales. >> reporter: gets a deal is up to the top democrat and top republican. >> we are engaged in discussions, the majority leader and myself and the white house in the hopes we can come forward as early as sunday and have a recommendation. >> whatever we come up with will be imperfect. that's where we are. >> repor
. >> reporter: as the senate leaders were mapping an escape from the fiscal cliff, president obama and republicans issued dueling messages on the web. >> we cannot afford the self inflicted wound to the economy. the folks you send to washington have to do their jobs. >> reporter: if the nation goes over the fiscal cliff next tuesday each side says the other is to blame. >> we can avoid the fiscal cliff if the president and the democrat-controlled senate step forward and...
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the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following the negotiations, working very hard on this saturday. so jess, democrats and republicans are supposedly working on a plan, even as we speak. what do we know about it? >> reporter: well, we know, don, that it's the senate leaders that are hashing this out. and what they're looking to negotiate is a deal that would extend current low tax rates for middle income americans. we don't know the exact threshold levels. so would it be people who make $400,000 and less, would it be $250,000 and less. but something that would extend low
the fiscal cliff, still looming. spending cuts and tax hikes that could shove our economy into recession. and a deadline lawmakers ignored until the very last possible minute. live pictures now of the capitol. looks beautiful. man, but there's a lot of wrangling going on there. lawmakers are back up -- had their backs up against the wall right now. and as they try to find a plan that can pass congress. let's hope they do. cnn's chief white house correspondent is jessica yellin. she is following...
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economy falls off the fiscal cliff, it will have an impact around the world. haus sirken is a partner and fellow of the overseas markets and joins us from chicago. thanks for being with us on this weekend. the idea -- >> great being with you, martin. >> thank you. the idea of the world being affected by the fiscal cliff problem here in america wasn't really lost on the president after his meeting with congressional immediate leaders yesterday. let's listen. >> i'm modestly optimistic that an agreement can be achieved. nobody is going to get 100% what have they want. but let's make sure that middle class families and the american economy and, in fact, the world economy, aren't adversely impacted because people can't do their jobs. >> so that begs the question, hall. how are other countries preparing for this really precarious situation and one in which they really have no control. >> well, martin, there's not much they can do to prepare. what will happen, if the fiscal cliff turns out to take place, is that we'll start to see the economy beginning to slide. the
economy falls off the fiscal cliff, it will have an impact around the world. haus sirken is a partner and fellow of the overseas markets and joins us from chicago. thanks for being with us on this weekend. the idea -- >> great being with you, martin. >> thank you. the idea of the world being affected by the fiscal cliff problem here in america wasn't really lost on the president after his meeting with congressional immediate leaders yesterday. let's listen. >> i'm modestly...
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, it is a cliff. >> most americans have not benefitted from this economy at all. people are struggling and most people i know are kind of, can i make the mortgage? can i keep my job? this is real for people, and the problem is that one of the things that i have discovered talking to conservative e k economists or progressive left wing economists or whoever i'm talking to say that we are all not asking the right questions and not having an honest debate. the honest debate is that conservative people on the right want less government and destroy government to take what people get out of it. a way to end it. so we are not, and the left is not talking anymore about what the real issues are are, and we talked about in the break about social security, and they are going to gut social skuecurity. i'm okay. i'm old [ laughter ] but y'all are going to be in trouble when it comes to social security and your generations will be in trouble when it comes to social security, because they are going to take it back and gut it so people won't get their do. and we talked about, mel
, it is a cliff. >> most americans have not benefitted from this economy at all. people are struggling and most people i know are kind of, can i make the mortgage? can i keep my job? this is real for people, and the problem is that one of the things that i have discovered talking to conservative e k economists or progressive left wing economists or whoever i'm talking to say that we are all not asking the right questions and not having an honest debate. the honest debate is that...
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economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> the pressure is on as harry reid and mitch mcconnell race against the clock to find a fix to the fiscal cliff. joining me are cnn contributor and democratic strategist maria cardona and republican strategist ron bonjin. good morning to you. >> good morning. >> good morning. >> ron, i'll start with you. reid and mcconnell, they really are the focus in the senate. in the house, it's speaker john boehner. i've got to ask you, is his job on the line if republicans balk at any deal that's reached? >> no, not at all. speaker boehner is extremely strong. his conferences support him and knows that he's bee
economy caught right in the middle. we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>>...
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. >>> "outfront" next, worries about the fiscal cliff wreaking havoc on our economy. stocks down for the fifth straight day. what lawmakers must do to stop the bleeding. >>> we count down our top political rivalries. find out how many of your favorite politicians made this list. through diet and exercise, alli can help you lose one more by blocking some of the fat you eat. let's fight fat with alli. ♪ trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car
. >>> "outfront" next, worries about the fiscal cliff wreaking havoc on our economy. stocks down for the fifth straight day. what lawmakers must do to stop the bleeding. >>> we count down our top political rivalries. find out how many of your favorite politicians made this list. through diet and exercise, alli can help you lose one more by blocking some of the fat you eat. let's fight fat with alli. ♪ trust duracell to power their donated toys? duralock power...
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. >> congressional leaders left the white house today without a deal to avoid the fiscal cliff. but the leaders and the president are still trying. >> i'm modestly optimistic that an agreement can be achieved. let's make sure that middle class families and the american economy and in fact the world economy isn't adversely impacted because people can't do their jobs. >> reporter: harry reid and mitch mccono agreed to spend the weekend working on a fall back plan that can pass both chambers of congress. >> some people will not like it, but that's where we are. >> reporter: president obama is pushing for a stop gap measure that would at least avoid tax increases on people earning less than $250,000. frustration is growing. a simple stop gap percent is not what men -- measure is not what many in washington hoped for. many blame president obama for the collapse of a bigger deal that would reduce spending and cut the country's debt. >> it is the president's responsibility to lay out a plan and to bring people together. >> house members don't get back here tonight sunday night. >>> pre
. >> congressional leaders left the white house today without a deal to avoid the fiscal cliff. but the leaders and the president are still trying. >> i'm modestly optimistic that an agreement can be achieved. let's make sure that middle class families and the american economy and in fact the world economy isn't adversely impacted because people can't do their jobs. >> reporter: harry reid and mitch mccono agreed to spend the weekend working on a fall back plan that can pass...
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. >>> "outfront" next, worries about the fiscal cliff wreaking havoc on our economy. stocks down for the fifth straight day. what lawmakers must do to stop the bleeding. >>> we count down our top political rivalries. find out how many of your favorite politicians made this list. ve, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. ...but he'd wait for her forever, for any reason, and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. i have a cold, and i took nyquil, but i'm still "st
. >>> "outfront" next, worries about the fiscal cliff wreaking havoc on our economy. stocks down for the fifth straight day. what lawmakers must do to stop the bleeding. >>> we count down our top political rivalries. find out how many of your favorite politicians made this list. ve, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest....
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cliff. >> i'm modestly optimistic that an agreement can be achieved. nobody is going to get 100% of what they want, but let's make sure that middle class families and the american economy and, in fact, the world economy aren't adversely impacted because people can't do their jobs. >> reporter: the president called the meeting as lawmakers pointed fingers in this high stakes game of chicken. >> it's republicans who are holding hostage the middle class in america so that the wealthy don't have to pay their fair share. >> we need two words, presidential leadership on not just taxing rich people, we could tax all the rich people and cut their heads off and it wouldn't help the medicare fiscal cliff. >> reporter: with time running out hopes for a grand bargain have diminished with talk now of a smaller deal that extend bush tax rate for the middle class and extends unemployment benefits but puts off major spending cuts and reform to entitlements like medicare. >> we're going to end up with a small kick the can down the road bill that creates another fiscal
cliff. >> i'm modestly optimistic that an agreement can be achieved. nobody is going to get 100% of what they want, but let's make sure that middle class families and the american economy and, in fact, the world economy aren't adversely impacted because people can't do their jobs. >> reporter: the president called the meeting as lawmakers pointed fingers in this high stakes game of chicken. >> it's republicans who are holding hostage the middle class in america so that the...
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that lawmakers may not lead us over that fiscal cliff after all. coming up next, president obama draws a line in the sand. we'll explain his plan for averting a tax hike. >> thank you for calling. >> i team reveals why a state agency is too busy to take your calls. >>> a late afternoon meeting brings progress towards avoiding the fiscal cliff. tonight abc 7 news mark matthews has been looking into the cost governoring over the live cliff. >> remember, last year it? was part of a deal to end the debt ceiling crisis. congress agreed to steep a spending cuts going into reduce the deficit. cuts now are just around the corner. >> the president says he's optimistic but did f.a deal can not be reached he'll tell hairy reid to introduce a fall back bill. >> put a bill making sure tax on middle class families don't goup, that unemployment is available for two million people z that lays ground work for additional deficit reductions and economic growth steps we can take in the new year. >> the bill, as the president calls bare minimum isn't what many hoped fo
that lawmakers may not lead us over that fiscal cliff after all. coming up next, president obama draws a line in the sand. we'll explain his plan for averting a tax hike. >> thank you for calling. >> i team reveals why a state agency is too busy to take your calls. >>> a late afternoon meeting brings progress towards avoiding the fiscal cliff. tonight abc 7 news mark matthews has been looking into the cost governoring over the live cliff. >> remember, last year it?...
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cliff" of tax hikes and spending cuts that begin on january 1. the president emerged shortly after admitting no deal had been reached at least not yet. >> we had a constructive meeting today. senators reid and mcconnell are discussing a potential agreement where we can get a bipartisan bill out of the senate over to the house and done in a timely fashion. >> reporter: the senate is in session today and is expected to return on sunday along with the house. >> we are engaged in discussions, the majority leader and myself and the white house, in the hopes that we can come forward as early as sunday and have a recommendation. >> reporter: but time is clearly running out for congress. st. mary's college political professor steven wol fert says the senate needs to introduce something today or they will likely not make the deadline. >> the deadline is so short and the amount of time necessary to go through the procedural steps to approve legislation are so numerous that they are right up against the very limit of the minimum amount of time necessary to
cliff" of tax hikes and spending cuts that begin on january 1. the president emerged shortly after admitting no deal had been reached at least not yet. >> we had a constructive meeting today. senators reid and mcconnell are discussing a potential agreement where we can get a bipartisan bill out of the senate over to the house and done in a timely fashion. >> reporter: the senate is in session today and is expected to return on sunday along with the house. >> we are...
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. >>> "outfront" next, worries about the fiscal cliff wreaking havoc on our economy. stocks down for the fifth straight day. what lawmakers must do to stop the bleeding. >>> we count down our top political rivalries. find out how many of your favorite politicians made this list. because it's the final 100 hours of the ford year end celebration. last chance to get the best deals of the year on america's freshest lineup. hurry in for the great mileage. hurry in the latest technology. the clock is ticking. so hurry to the final 100 hours of ford's year end celebration. before everything's gone. and one more thing...hurry. get a focus with 2000 cash plus 500 year end bonus cash with no charge sync and sound during the final hundred hours of the ford year end celebration. only at your local ford dealer. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you n
. >>> "outfront" next, worries about the fiscal cliff wreaking havoc on our economy. stocks down for the fifth straight day. what lawmakers must do to stop the bleeding. >>> we count down our top political rivalries. find out how many of your favorite politicians made this list. because it's the final 100 hours of the ford year end celebration. last chance to get the best deals of the year on america's freshest lineup. hurry in for the great mileage. hurry in the...
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going over the fiscal cliff could send the economy into another recession. this is a live look from the white house. present obama is expected to speak in just a few minutes from now. as soon as he speaks, we will bring it to you live. "one life to live" and "all my children" may be coming back. >> new information about a mexican vacation marilyn monroe took 50 years ago. >> how do they get a chance to dance with beyonce on super bowl sunday. >> where drugs were found a local airport an turning now to entertainment news. bentz will have the chance to join beyonce on stage of the upcoming super bowl. -- fans will have the chance to join beyonce on stage of the upcoming super bowl. 50 people along with a friend will be selected to join the singer on stage. >> did your submission ready leon. -- get your submission ready leon. [laughter] the company prospect parka well-known soap actor tweeted denied that he has signed on to play his longtime "all my children" character. filming could begin as early as february. >> a new twist in the fbi's investigation into mar
going over the fiscal cliff could send the economy into another recession. this is a live look from the white house. present obama is expected to speak in just a few minutes from now. as soon as he speaks, we will bring it to you live. "one life to live" and "all my children" may be coming back. >> new information about a mexican vacation marilyn monroe took 50 years ago. >> how do they get a chance to dance with beyonce on super bowl sunday. >> where drugs...
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the fiscal cliff is a battle of ideological wills. some americans feel strongly that increasing taxes hurts the economy. quite possible that it will. but the central question is whether it will hurt all that much to raise income taxes a little bit on the highest earners in the country. well, to push the country to the edge of a recession over this is irresponsible. the increase will hardly affect the economy. but that's my opinion. and my opinion should count as much as anyone else's. the problem is that in washington one person's opinion carries disproportionate weight and that person is grover norquist. he's the head of americans for tax reform. they have got the pledge that mostly republican members of congress signed to say they won't increase taxes. now, understand this. the top marginal tax rate going from 35% to 39.6% is not a tax increase. it is a return to tax rates that would have taken place after the temporary bush tax cuts expired and got extended. so the way i see it, that cuts with designed to be temporary, but clearly
the fiscal cliff is a battle of ideological wills. some americans feel strongly that increasing taxes hurts the economy. quite possible that it will. but the central question is whether it will hurt all that much to raise income taxes a little bit on the highest earners in the country. well, to push the country to the edge of a recession over this is irresponsible. the increase will hardly affect the economy. but that's my opinion. and my opinion should count as much as anyone else's. the...
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the fiscal cliff will affect the u.s. economy. the u.s. economy affects the global economy. "a" equals "b" equals "c," and you see how it happens. there's another one as well. this is what you've got. you've also got the debt ceiling debacle which is nestling and now a cloud is coming in. starting with the fiscal cliff. it is so complicated and confusing, boehner saying the senate must go first. harry reid saying the u.s. is going over the cliff. consumer confidence numbers are down. markets are roiled, and it's not surprising people are worried. but now factor in as tim geithner said that the debt ceiling would be reached by the end of the year. $16.4 trillion. extraordinarily measures. now, what does extraordinary measures mean? suzanne, i'll tell you. it means literally robbing peter to pay paul. shifting the money around. so that you can actually keep paying the bills before you hit the ceiling. all in all, i can't remember an end of a year, suzanne, when we've had two so serious issues affecting the u.s. economy all at the same time. >> it is worrisome. i wonder, richar
the fiscal cliff will affect the u.s. economy. the u.s. economy affects the global economy. "a" equals "b" equals "c," and you see how it happens. there's another one as well. this is what you've got. you've also got the debt ceiling debacle which is nestling and now a cloud is coming in. starting with the fiscal cliff. it is so complicated and confusing, boehner saying the senate must go first. harry reid saying the u.s. is going over the cliff. consumer...
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economy and make over the so-called fiscal cliff. reaching a deal before them will not be easy. because right now, both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are all watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. i told president i would be happy to look at what they're he promises but the truth is is that we are coming up against a hard deadline here and as i said this is a conversation we should have had months ago. >> democrats want to extend the bush era tax cuts to everyone except those americans who are making $250,000 or more a year. many republicans remain against the tax increases. >> former president george h. w. bush is still in intensive care at a houston hospital this morning dealing with a stubborn fever. the former president's family is confident that he will be out of the i see you soon. the 88 year-old has been in a hospital for more than a month, after first coming down with bronchitis
economy and make over the so-called fiscal cliff. reaching a deal before them will not be easy. because right now, both sides are involved in a high-stakes political blame game. >> we are here in washington working while the members of the house of representatives are all watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. i told president i would be happy to look at what they're he promises but the truth is is that we are...
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cliff impasse it's a potentially devastating one-two punch for the economy. neither the longshoreman's union or alliance representing the shipping companies could give us anyone to speak on camera but they say it boils down to one issue. the key sticking point is over the large containers and the payments they get for them. the shipping companies pay royalties for the containers based on their weight but the shipping companies now want to freeze the royalty payments for current longshoremen and eliminate them completely for future highers. >> they say those royalties are designed to make up for jobs lost to automation. a strike would only effect ports that handle containers and not others like automobiles. but if the shipping companies lockout the longshoremen. >> that would impact more than just containers. that would impact all cargoes at ports so that would have a much more impactful reaction. >> that was brian todd reporting. from one labor dispute to others. it caused a crab shortage across the state but things may be looking up for bay area seafood love
cliff impasse it's a potentially devastating one-two punch for the economy. neither the longshoreman's union or alliance representing the shipping companies could give us anyone to speak on camera but they say it boils down to one issue. the key sticking point is over the large containers and the payments they get for them. the shipping companies pay royalties for the containers based on their weight but the shipping companies now want to freeze the royalty payments for current longshoremen and...
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republicans expect to vote on whatever fiscal cliff bill the senate passes one day before the deadline and warnings of a recession that the rahled wall street and consumer confidence. >> they know it will have a negative impact on the economy and they know it will have a negative impact on them and their families and they are expecting us to be here to work and we're not. >> reporter: real deadlines are approaching. 2 million americans out of work for more than six months start losing their jobless benefits tomorrow and the nation runs out of borrowing authority to finance our $16 trillion debt on monday. the treasury department says it can use extraordinary measures to avert default until february extraordinary, that's a word that might apply to this entire fiscal cliff situation. >> major garrett, thank you very much. >>> republican senator bob corker of tennessee has offered proposals in recent weeks to break the stalemate in congress. senator, good morning, good to see you. >> good morning, jeff good to be with you. >> are we going over the cliff? >> well it depends on what that me
republicans expect to vote on whatever fiscal cliff bill the senate passes one day before the deadline and warnings of a recession that the rahled wall street and consumer confidence. >> they know it will have a negative impact on the economy and they know it will have a negative impact on them and their families and they are expecting us to be here to work and we're not. >> reporter: real deadlines are approaching. 2 million americans out of work for more than six months start...
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economy will go over the so- called fiscal cliff. that's when automatic tax increases and spending cuts would take effect. reaching a deal before then what be easy. right now both sides are involved in a high-stakes political blame game. >> we in washington are working while the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president i would be happy to look at whatever he proposes but the truth is we're coming against a hard deadline here. i said this is a conversation we should have had months ago. >> former president george h. w. bush is still in intensive care at a hospital in houston with a stubborn fever. the family is, that he will be out of the i see you sound. the chief of staff said supporters a note yesterday including " he would ask me to tell you please put the sharks back in the closet " the 88 year- old has been in a hospital for more than a month after first coming down with bronchitis. >> a live look
economy will go over the so- called fiscal cliff. that's when automatic tax increases and spending cuts would take effect. reaching a deal before then what be easy. right now both sides are involved in a high-stakes political blame game. >> we in washington are working while the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president i would be happy to look at...
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consumer confidence took a nose dive and economists blame the fear of falling over the fiscal cliff. the consumer confidence index hit a four year high in october but saw the largest drop since last summer when the country's credit rating was lowered. it's a sign of what is to come if no fiscal cliff deal is reached and automatic income tax increases and government spending cuts go into effect in four days. meanwhile the president called a top four congressional leaders to meet with them at the white house later today with the hopes they can avoid this potential crisis. and in a somewhat surprising move top republican signaled he might be willing to compromise more on that when i see you next. >>> only on 2 in the north bay search teams are using a new technology to try to find a man who jumped the court me terra creek during a police chase. anthony donaldson was swept away on monday. he jumped into the creek to avoid a drunk driving test. >> really what it is it's the difference between the televisions we had years ago and newer digital tvs we have nowadays. a much sharper, clearer
consumer confidence took a nose dive and economists blame the fear of falling over the fiscal cliff. the consumer confidence index hit a four year high in october but saw the largest drop since last summer when the country's credit rating was lowered. it's a sign of what is to come if no fiscal cliff deal is reached and automatic income tax increases and government spending cuts go into effect in four days. meanwhile the president called a top four congressional leaders to meet with them at the...
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a new report suggests the looming "fiscal cliff" is forcing consumers to lose confidence in the nation's economy. the conference board says its consumer price index fell sharply for the second month. >>> a potential dock worker strike is possible on the east and gulf coast which threatens to cost the nation's economy billions. more than 14,000 longshoremen are ready to walk off the job sunday. a strike would shut ports from boston to houston. those ports move as much as 100 million tons of goods each year including everything from flat screen tvs, sneaker and snow shovels. >>> the housing market shows new signs of rebounding. the commerce department says sales of new homes increased by about 4.5% in november from the month before. that's the fastest pace in two years. >>> and that's your moneywatch. for more, stay with cbsmoneywatch.com. back to you. >> thank you. >>> with all the snow falling in the sierra, avalanche concerns are on the minds of many after two people died at resorts this week. cbs reporter neda iranpour asks, what's being done to keep skiers safe? >> reporter: it's one
a new report suggests the looming "fiscal cliff" is forcing consumers to lose confidence in the nation's economy. the conference board says its consumer price index fell sharply for the second month. >>> a potential dock worker strike is possible on the east and gulf coast which threatens to cost the nation's economy billions. more than 14,000 longshoremen are ready to walk off the job sunday. a strike would shut ports from boston to houston. those ports move as much as 100...
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economy. [ tylenol bottle ] we are? yeah we both relieve coughs, sneezing, aches, fevers. and i relieve nasal congestion. overachiever. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> as if the looming fiscal cliff wasn't enough to worry about, now 14,000 dockworkers at ports from massachusetts to texas are threatening to go on strike sunday. that could cost americans billions of dollars, because shipping costs on everything from shoes to cars would skyrocket. c
economy. [ tylenol bottle ] we are? yeah we both relieve coughs, sneezing, aches, fevers. and i relieve nasal congestion. overachiever. [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get...
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from going over the fiscal cliff. they only have until january 1st to avoid tax increases. >> highway patrol and local law enforcement agencies will be cracking down on drunk drivers this holiday weekend. there will be more patrols and extra dui check points all over the bay area. >>> the contra costa county districts attorneys office is investigating two separate police shootings. the latest happened last night. officers were called to a chevron station around 6:40 last night. they saw a man pistol whip a woman. the two officers opened fire. the suspect was taken to the hospital where he is in critical condition this morning. the two officers have eight years of experience between them. >>> we are learning more about the walnut creek police shooting we first reported at this time yesterday. two officers responded to a 911 call from an apartment on creek side drive. the dispatcher heard screaming in the background. when officers arrived they found the suspect anthony armed with a weapon. stunned friends say he worked
from going over the fiscal cliff. they only have until january 1st to avoid tax increases. >> highway patrol and local law enforcement agencies will be cracking down on drunk drivers this holiday weekend. there will be more patrols and extra dui check points all over the bay area. >>> the contra costa county districts attorneys office is investigating two separate police shootings. the latest happened last night. officers were called to a chevron station around 6:40 last night....